It looks like Europe is finally getting its act together

Britain's Prime Minister David Cameron, France's President Francois Hollande and Germany's Chancellor Angela Merkel attend a "Last Post" ceremony at the Menin Gate in Ypres, June 26, 2014
REUTERS/Francois Lenoir
Europe's latest business surveys rolled out early Wednesday, with the purchasing managers' index (PMI) scores for the services sector and economy as a whole in February.

Anything over 50 signals that the economy is expanding and anything below 50 suggests an economy is shrinking.

That whole-economy eurozone figure is the best since July 2014. Germany, Italy and Spain all came in a little lower than expected, but none of the big four countries is in recession territory any more, and the French figure is a massive improvement.

At 10 a.m. GMT (5 a.m. ET) the eurozone's retail sales figures for January are out. Economists were expecting a 1.9% boost from the same month last year, but that was before Germany's figures were released yesterday: Europe's largest economy saw 5.3% surge in retail sales in January, which is likely to drive Europe as a whole higher.